February 1, 2024/InvestmentOne Report
The NGXASI advanced by 1.63% today to close at 102,802.25pts, as bargain hunting in BUAFOODS (+4.86%), ZENITHBANK (+9.97%) and GTCO (+10.00%) drove the market into the green zone.
In the Fixed income space, the Treasury Bills secondary market closed up, with bullish sentiments observed across all tenors, as Average T-Bills yield declined by 10bps to 9.05%. However, the FGN Bond market closed bearish as the Average FGN Bond yield rose by 5bps to close at 14.54%.
At the NAFEM window, the Naira weakened by 0.43% to close at NGN1,461.90/USD. Crude oil price (Brent) inched higher by 0.73% to USD81.14pb.
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